Sets forth university requirements for Officers to certify annually their financial accountability, responsibility, and representations.
To set forth annual certification requirements of Officers to support the University's institutional certification of financial accountability and responsibility as required by State statute and as a result of the University's annual financial audit.
The University makes certifications to the State Controller semi-annually under the State Department Financial Responsibility and Accountability Act (C.R.S. 24-17-101 et seq). In addition, the University must make representations to the independent auditors certifying the accuracy and completeness of the financial statements and the effectiveness and sufficiency of internal controls. Due to the University's decentralized environment, Officers (and other Employees as discussed in the Administrative Policy Statement Fiscal Roles and Responsibilities) share responsibility for the University's financial management and these certifications.
This policy sets forth annual certification requirements of Officers to support the University's institutional certification of financial accountability and responsibility as required by State statute and as a result of the University's annual financial audit.
II. Policy Statement
The University is required to file fiscal certifications under the State Department Financial Responsibility and Accountability Act (C.R.S. 24-17-101 et seq.) and as a part of external audits. The University has generally designated the following individuals to sign these certifications: President, Vice President for Finance and CFO, Treasurer, and the University Controller.
Officers shall annually file a Fiscal Certification Statement. The annual filing of this certification does not relieve the Officer of her/his responsibility to prospectively report any exceptions to the certifications as required by University policy.
The University Controller will annually ensure that the Fiscal Certification Statement is sufficient to facilitate the University's institutional fiscal certifications by June 30 of each fiscal year. In addition, the University Controller will ensure that all changes to the Fiscal Certification Statement are communicated to Officers in a timely manner.
In addition to this Fiscal Certification Statement, the University Controller may require additional representations unique to an Organizational UnitOrganizational unitA subset of University operations. An Organizational Unit may be a department or any other distinct operational activity with the following characteristics: • Organizational permanency; • Programmatic autonomy; and • An annual operating budget that is fiscally independent. Within the Finance System, these areas are represented on the ChartField tree as Orgs. to facilitate the required certification by the University. If such additional certification is necessary, the University Controller will ensure that the request is communicated to the responsible Officers in a timely manner.
III. Procedures, Forms, Guidelines and Resources
- Finance Procedural Statement Fiscal Certification
- Fiscal Certification Statement
The Fiscal Certification Statement must be completed online in the my.CU portal. The Fiscal Certification Statement linking from this section of the Administrative Policy Statement document is an example of the online form.
C. Related Administrative Policy Statements
Controller Function Decentralization
- Fiscal Roles and Responsibilities
- Fiscal Code of Ethics
- Officer Disclosure of Interests
- Fiscal Misconduct Reporting
D. Educational Resources
- Educational resources including guides, training announcements, and newsletters are announced and available on Office of University Controller website.
Italicized terms used in this Administrative Policy Statement are defined in the Administrative Policy Statement Glossary.
- Revision as of December 1, 2007
- New as of November 5, 2005